Business Income Tax Release for February

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‘Form

990-T

Department of the Treasury
Internal Revenue Service

A I Check box if
— address changed
B Exempt under section
501 ( C )( 3 )

408(e) p 220(e)

408A (J 530(a)

529(a)

Book value of all assets at
end of year

21,243.1

Exempt Organization Business Income Tax Return

(and proxy tax under section 6033(e))

For calendar year 2008 or other tax year beginnin gl0/01 , 2008,

and ending 9/30 , 2009

Print

or

Type

See separate instructions.

HOUSTON ICE THEATRE SKATERS
14827 CHARLMONT
HOUSTON, TX 77083-5649

OMB Mo 1545 0687

2008

Op«n fa Pubhe inspecSon (or
StntfcX?) Organisations Only

D Employer identification number

(Employees' trust, see
instructions for Block D )

83-0375312

| E Unrelated business activity
codes (See instructions lor
Block E )

Group exemption number (See instructions tor Block F.)

G Check organization type ► X| 501(c) corporation

I

501 (c) trust

□

401 (a) trust

□

Other trust

H Describe the organization's primary unrelated business activity.

I During the tax year, was the corporation a subsidiary in an affiliated group or a parent-subsidiary controlled group 7 | |Yes |3c] No
If 'Yes,' enter the name and identifying number of the parent corporation

The books are in care of*" LAUREN C. BRAXTON

Telephone number** 281~969~8834

(A) Income

(B) Expenses

(C) Net

1 c

7,337.

2

5,519.

3

1,818.

4a

4b

4c

5

6

7

8

9

10

11

12

13

1,818.

0.

1,818.

Part f Unrelated Trade or Business Income

1 a Gross receipts or sales 7, 337 ,

b Less returns and allowances

2 Cost of goods sold (Schedule A, line 7)

3 Gross profit Subtract line 2 from line 1c

4a Capital gain net income (attach Schedule D)
b Net gain (loss) (Form 4797, Part II, line 17) (attach Form 4797)
c Capital loss deduction for trusts

5 Income (loss) from partnerships and S corporations
(attach statement)

c Balance

eg

c5

cnS

6<t)

CD

yn

30

6

7

8

9

10

11

12

Rent income (Schedule C)

Unrelated debt-financed income (Schedule E)

Interest, annuities, royalties, and rents from controlled
organizations (Schedule F)

Investment income of a section 501(c)(7), (9), or (17) organization (Sch G)
Exploited exempt activity income (Schedule I)

Advertising income (Schedule J)

Other income (See instructions, attach schedule.)

13 Total. Combine lines 3 through 12

Part ff j Deductions Not Taken Elsewhere (See instructions for limitatic
(Except for contributions, deductions

^ on deductions.)

ith the unrelated business income.)

21

22a

14 Compensation of officers, directors, and trustees (Schf

15 Salaries and wages

16 Repairs and maintenance

17 Bad debts

18 Interest (attach schedule)

19 Taxes and licenses

20 Charitable contributions (See instructions for limitation rules.)

21 Depreciation (attach Form 4562)

22 Less depreciation claimed on Schedule A and elsewhere on return

23 Depletion

24 Contributions to deferred compensation plans

25 Employee benefit programs

26 Excess exempt expenses (Schedule I)

27 Excess readership costs (Schedule J)

28 Other deductions (attach schedule)

29 Total deductions. Add lines 14 through 28

30 Unrelated business taxable income before net operating loss deduction. Subtract line 29 from line 13

31 Net operating loss deduction (limited to the amount on line 30)

32 Unrelated business taxable income before specific deduction Subtract line 31 from line 30

33 Specific deduction (Generally $1,000, but see line 33 instructions for exceptions)

34 Unrelated business taxable income. Subtract line 33 from line 32 If line 33 is greater than line 32, enter
the smaller of zero or line 32

14

15

16

17

18

19

20

22b

23

24

25

26

27

28

29

30

31

32

33

34

1, 818,

1,818.

1 , 000 .

818,

BAA For Privacy Act and Paperwork Reduction Act Notice, see instructions.

TEEA0205L 02/06/09

Form 990-T (2008)

Form 990-T (2008) HOUSTON ICE THEATRE SKATERS

83-0375312

Page 2

Pari Ml j Tax Compulation

35 Organizations Taxable as Corporations. See instructions for tax computation.

Controlled group members (sections 1561 and 1563) check here ► Q . See instructions and:
a Enter your share of the $50,000, $25,000, and $9,925,000 taxable income brackets (in that order).
(1)1$ | (2) 1$ | (3) [$_

36

37

38

39

b Enter organization’s share of' (1) Additional 5% tax (not more than $11,750)

(2) Additional 3% tax (not more than $100,000)
c Income tax on the amount on line 34

Trusts Taxable at Trust Rates. See instructions for tax computation Income tax on the amount
on line 34 from Q Tax rate schedule or Q Schedule D (Form 1041)

Proxy tax. See instructions
Alternative minimum tax

Total. Add lines 37 and 38 to line 35c or 36, whichever applies

35c

36

37

38

39

123,

123.

Pari tV ) Tax and Payments

40 a

40 b

40 c

40d

40a Foreign tax credit (corporations attach Form 1 1 18; trusts attach Form 1116)
b Other credits (see instructions)

c General business credit Check here and indicate which forms are attached

| | Form 3800 Q]Form(s) (specify) ►

d Credit for prior year minimum tax (attach Form 8801 or 8827)
e Total credits. Add lines 40a through 40d

41 Subtract line 40e from line 39

42 Other taxes Check if from | | Form 4255 Q] Form 8611 [ [Form 8697

[ | Other (attach schedule)

43 Total tax. Add lines 41 and 42

44 a Payments: A 2007 overpayment credited to 2008

b 2008 estimated tax payments

c Tax deposited with Form 8868

d Foreign organizations' Tax paid or withheld at source (see instructions)
e Backup withholding (see instructions)

QForm 8866

f Other credits and payments
Q Form 41 36

Form 2439
Other

Total

44a

44b

44c

44 d

44e

44f

45

46

47

48

49

Total payments. Add lines 44a through 44f

Estimated tax penalty (see instructions) Check if Form 2220 is attached ► Q

Tax due. If line 45 is less than the total of lines 43 and 46, enter amount owed

Overpayment. If line 45 is larger than the total of lines 43 and 46, enter amount overpaid 1

Enter the amount of line 48 you want Credited to 2009 estimated ta)P~ | Refunded 1

40e

41

42

43

45

46

47

48

49

123.

123.

0 .

123.

Part V Statements Regarding Certain Activities and Other Information (see instructions )

1 At any time during the 2008 calendar year, did the organization have an interest in or a signature or other authority over a
financial account (bank, securities, or other) in a foreign country? If YES, the organization may have to file Form TD F 90-22.1
Report of Foreign Bank and Financial Accounts If YES, enter the name of the foreign country here ►

Yes |

No

HR

X

2 During the tax year, did the organization receive a distribution from, or was it the grantor of, or transferor to, a foreign trust?
If YES, see the instructions for other forms the organization may have to file

3 Enter the amount of tax-exempt interest received or accrued during the tax year ► $ 0 .

X

Schedule A - Cost of Goods Sold. Enter method of inventory valuation

1 Inventory at beginning of year

2 Purchases

3 Cost of labor

4a Additional section 263A costs (attach schedule)

1

6 Inventory at end of year

7 Cost of goods sold. Subtract
line 6 from line 5. Enter here
and in Part 1, line 2

6

2

7

3

4a

KTH

No

b Other costs

4b

8 Do the rules of section 263A (with respect to
property produced or acquired for resale) apply
to the organization?

5 Total. Add lines 1 through 4b

5

Sign

Here

Under penalties of perjury, 1 declare that 1 have examined this return, including accompanying schedules and statements, and to the best o
correct, and rompk^fij^^lara^jon of preparer (other than taxpayer) is basec^on alliprormation of which preparer has any knowledge

* 1 r PRESIDENT

f my knowledge and belief, it is true.

May the IRS discuss this return with
the preparer shown below (see
instructions) 7 Yes f] No

Sigtwrfunrof officer Date Title

Paid

Pre-

parer's

Use

Only

signature C . ^RAXTON^^PA

Check if Preparer's SSN or PTIN

employed [Xl 124-38-6871

Firm's name (or LAUREN C. BRAXTON, CPA

ein 27-0305254

employ^" w 4501 CARTWRIGHT RD # 306

Phone no 281 — 969“ 8834

zip'code“" J MISSOURI CITY, TX 77459-3539

BAA

TEEA0202L 02/06/09

Form 990-T (2008)

Form 990-T (2008) HOUSTON ICE THEATRE SKATERS

Schedule G — Investment Income of a Section 501 (c

1 Description of income 2 Amount of ,ncome

10 *

83-0375312 Page.

8), or (17) Organization (see instructions)

4 Set-asides 5 Total deductions and

(attach schedule) set-asides (column 3
plus column 41

Enter here and on page 1
Part I, line 9, column (A)

Enter here and on paqe 1 ,
Part I, line 9, column (B).

Schedule 1 — Exploited Exempt Activity Income, Other Than Advertising

Income (see instructions)

1 Description of exploited activity

2 Gross
unrelated
business
income
from trade
or business

3 Expenses
directly connected
with production of
unrelated business
income

4 Net income
(loss) from
unrelated trade or
business (column 2
minus column 3), If a
gam, compufe
columns 5 through 7

5 Gross income
from activity
that is not unrelated
business
income

6 Expenses
attributable to
column 5

7 Excess
exempt expenses
(column 6 minus
column 5, but not
more than column 4)

Enter here and Enter here and
on page 1 , on page 1 ,

Part I, line 10, Part I, line 10,
column (A) column (B)

Totals ►

Schedule J — Advertising Income (See instructions

Part f Income From Periodicals Reported on a Consolidated Basis

2 Gross 3 Direct 4 Advertising gain or

advertising advertising (loss) (column 2
income costs minus column 3). If a

gam, compute
columns 5 through 7

1 Name of periodical

5 Circulation
income

6 Readership
costs

Enter here and
on page 1 ,
Part II, line 26

7 Excess readership
costs (column 6
minus column
5, but not

more than column 4).

Totals (carry to Part II, line (5

Part li

Income From Periodicals Reported on a Separate Basis (For each periodical listed in Part n, fill in columns 2
through 7 on a line-by-line basis )

1 Name of periodical

2 Gross
advertising
income

3 Direct
advertising
costs

4 Advertising gain or
(loss) (column 2
minus column 3). If a
gam, compute
columns 5 through 7

5 Circulation
income

6 Readership
costs

7 Excess readership
costs (column 6
minus column
5, but not

more than column 4)

Enter here and
on page 1 ,
Part r line 1 1 ,

Enter here and
on page 1 ,
Part 1, line 11,
column (B)

column (A).

Totals, Part II (lines 1-5) ►

Schedule K — Compensation of Officers, Directors, and Trustees (see instructions

3 Percent of
time devoted
to business

Enter here and
on page 1 ,
Part II, line 27.

4 Compensation attributable
to unrelated business

Total. Enter here and on page 1, Part II, line 14

BAA

TEEA0204 L 02/06/09

Form 990-T (2008)

Form 990-T (2008) HOUSTON ICE THEATRE SKATERS 83-0375312 Page 3

v Schedule C - Rent Income (From Real Property and Personal Property Leased With Real Property) (see instructions)

1 Description of property

0 )

J2)

(3)

(4)

2 Rent received or accrued

3(a) Deductions directly connected
with the income in columns 2(a) and 2(b)
(attach schedule)

(a) From personal property
(if the percentage of rent for personal
property is more than 1 0% but
not more than 50%)

(b)From real and personal property
(if the percentage of rent for
personal property exceeds 50% or
if tne rent is based on profit or income)

0)

(2)

(3)

(4)

Total

Total

(b) Total deductions Enter
here and on page 1, Part
1, line 6, column (B) ►

(c) Total income. Add totals of columns 2(a) and 2(b). Enter
here and on page 1, Part 1, line 6, column (A) ►

Schedule E — Unrelated Debt-Financed Income (see instructions)

1 Description of debt-financed property

2 Gross income from
or allocable to
debt -financed property

3 Deductions directly connected with or allocable to
debt-financed property

(a) Straight line
depreciation (attach sch)

(b) Other deductions
(attach schedule)

(D

(2)

(3)

(4)

4 Amount of average
acquisition debt on or
allocable to debt-financed
property (attach schedule)

5 Average adjusted basis of
or allocable to debt-financed
property (attach schedule)

6 Column 4
divided by
column 5

7 Gross income
reportable

(column 2 x column 6)

8 Allocable deductions
(column 6 x total of
columns 3(a) and 3(b))

(1)

%

(2)

%

(3)

Q,

O

(4)

O

"O

Totals ►

Enter here and on page 1 ,
Part 1, line 7, column (A)

Enter here and on page 1 ,
Part 1, line 7, column (B)

Total dividends-received deductions included in column 8

►

Schedule F — Interest. Annuities. Royalties, and Rents from Controlled Organizations (see instructions)

1 Name of Controlled
Organization

2 Employer
Identification
Number

Exempt Controlled Organizations

3 Net unrelated
income (loss)
(see instructions)

4 Total of specified
payments made

5 Part of column 4
that is included
in the controlling
organization’s
gross income

6 Deductions directly
connected with income
in column 5

(D

(2)

(3)

(4)

Nonexempt Controlled Organizations

7 Taxable Income

8 Net unrelated
income (loss)
(see instructions)

9 Total of specified
payments made

10 Part of column 9 that is
included in the controlling
organization’s gross income

11 Deductions directly
connected with income
in column 10

(D

(2)

(3)

(4)

Totals

Add columns 5 and 10 Enter
here and on page 1, Part 1, line
8, column (A)

Add columns 6 and 1 1 Enter
here and on page 1, part 1, line
8, column (B)

BAA TEEA0203 l 02/06/09 Form 990-T (2008)